REVISITING BLUE ECONOMY: CHALLENGES AND PROSPECTS FOR THE MARITIME SECTOR OF PAKISTAN

Abstract

The need for sustainable development amidst an ever-expanding global population and diminishing resources on land has engendered a worldwide shift from Green/Brown economy to Blue Economy. The economists estimate that the ocean economy can increase the assets up to US $24 trillion and can be healthy for the ecosystem as well. In this aspect, Pakistan can extract maximum gains from the growth of its Blue Economy because it has an ‘untapped maritime potential’ that offers multiple opportunities. To securitize the significance of Blue Economy is therefore imperative for Pakistan, not only for economic dividends but also for ensuring human security of the coastal population of Pakistan. Hence, this research focuses on the Blue Economic potential of Pakistan
and the opportunities and challenges that lie in this sector.